(CNBC) — Persistent weakness in technology stocks led the major indexes lower on Monday after last week’s hotter-than-expected inflation readings sparked a downturn in equity markets.
The Dow Jones Industrial Average dipped 54.34 points, or 0.2%, to 34,327.79. The S&P 500 lost 0.3% to 4,163.29 as the tech sector pulled back 0.7%. The Nasdaq Composite fell 0.4% to 13,379.05.
Big Tech came under pressure to start the week, with Apple and Netflix each down 0.9%. Microsoft shed 1.2%, while Tesla dropped more than 2% as famed investor Michael Burry revealed a big short position on the electric carmaker. Traders have punished the technology sector in recent weeks amid a broader shift out of growth stocks and into cyclical, reopening trades in energy, financials and materials.
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